First Quantum Minerals (OTCMKTS:FQVLF) Shares Gap Down – Here’s Why

First Quantum Minerals Ltd. (OTCMKTS:FQVLF) gapped down prior to trading on Tuesday . The stock had previously closed at $25.58, but opened at $22.01. First Quantum Minerals shares last traded at $25.7125, with a volume of 3,743 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FQVLF. TD Securities reiterated a “hold” rating on shares of First Quantum Minerals in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of First Quantum Minerals in a research note on Wednesday, April 15th. UBS Group upgraded shares of First Quantum Minerals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. Barclays reiterated an “overweight” rating on shares of First Quantum Minerals in a research note on Monday, May 4th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of First Quantum Minerals in a research note on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

First Quantum Minerals Stock Down 0.5%

The business’s fifty day moving average price is $25.22 and its 200 day moving average price is $25.43. The firm has a market capitalization of $22.47 billion, a price-to-earnings ratio of -107.74 and a beta of 1.26. The company has a current ratio of 1.42, a quick ratio of 0.86 and a debt-to-equity ratio of 0.44.

First Quantum Minerals (OTCMKTS:FQVLF) last announced its quarterly earnings data on Tuesday, April 28th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.22). The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. First Quantum Minerals had a negative net margin of 3.69% and a negative return on equity of 1.21%. On average, equities analysts expect that First Quantum Minerals Ltd. will post 0.49 EPS for the current year.

First Quantum Minerals Company Profile

First Quantum Minerals Ltd. is a Canada-based mining company principally engaged in the exploration, development, production and marketing of copper and other mineral commodities. Headquartered in Vancouver, British Columbia, the company develops and operates large-scale open-pit and underground mines and associated processing facilities. Its activities span the full value chain from exploration and feasibility studies through to mining, milling and the sale of concentrates and refined metals to global customers.

Copper is the company’s primary product, produced alongside by-products such as gold, nickel, zinc and cobalt depending on the orebody.